In a recent blog, Tyro Payments executive director Jost Stollman predicts that disruption is the new frontier for governance and risk professionals and warns that for many the very real risk is tardiness in coming to grips with strategic governance in a new era of digital disruption. He points to the media and advertising industries which have already been turned upside down and now the transformation is moving through the commerce, banking, health and manufacturing sectors making sound governance more challenging than ever. As Mr Stollman says, no one and no organisation is immune from the fourth industrial revolution of disruption.

A new issues paper asks some big questions aimed at firing up the debate on how financial reporting and accountability in the not-for-profit (NFP) and charitable sector can be improved. The paper was launched at the end of March by Anglicare Australia, the Australian Charities and Not-for-profit Commission (ACNC) and the Australian Accounting Standards Board (AASB).

While its vision remained the same, the way in which the Australian Securities and Investments Commission (ASIC) was approaching regulation was transforming, thanks to advancements in regulatory technology or ‘regtech’, according to ASIC’s chairman Greg Medcraft.